Let to: Liverpool Football Club - Attractive Industrial Investment Opportunity - FALLOWS WAY
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FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK
LIVERPOOL, L35 1RZ
Let to: Liverpool Football Club
Attractive Industrial Investment Opportunity
ENTER
FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK,
LIVERPOOL, L35 1RZ
INVESTMENT
SUMMARY
• A well specified distribution
unit extending to 94,705 sq ft
(8,798.3 sq m).
• Secured for 10 years to Liverpool
Football Club.
• Situated adjacent to Junction 6 of the
M62 Motorway and Junction 1 of the
M57 Motorway, providing excellent
access to the national motorway
network.
• Rental income of £300,000 per
annum, equating to a low rent of just
£3.17 psf.
• Freehold.
• Inviting offers at £4.36M, which
reflects a net initial yield of 6.50%. A
purchase at this level equates to an
attractive capital value rate of £46.04
per sq ft.
3 1
A671
M55 11
4
M6 10
A6 A666 9
A59 8 Burnley
A583 M65
31 7
Preston A677 6
Accrington
FALLOWS WAY
Blackburn
A59 A582
30
5
WHISTON ENTERPRISE BUSINESS PARK, A646
A646
A53
29
LIVERPOOL, L35 1RZ
4 Halifax
29 3
1 M65
A56
Rawtenstall
Leyland 28
Darwen
A644
A565 8
Southport M6 Chorley
1
A59 Huddersfield
A58
A570 M61
M66 A629
Rochdale 21
A58 Bolton
27 2 A58
20
A58
3 19
Ormskirk 6 A676
A565 A56
A666 M62
5
Wigan
3 4 19
4 M61
A59 5 26 3 17 20
M58 16
A576 21
M6 22
1 A627
25
A58 A580
7
12
Salford A628
A570 24 A580 1 M602
A5036 3 A6010 23
6 11
A580 23 10
4
9 Manchester 24 3
A565 M57
M62 A5103
A5058 3 A58 8
22 A57 7
Wallasey
A554 2
WHISTON
10 11
A5053
ENTERPRISE PARK 10 6 A6 25
1 A57 9
21A
5 A34 27 26
Liverpool 5 M62 A56 M60
6 7
A553
3 2
Port of Stockport
2 Liverpool 1 A579 21 3 2 4
A57 1
Altrincham
Birkenhead A5062 Warrington
A5300 4
3 A5061 5
A41 20 M56 8 6
7
A561 A56 9 A6
4 Liverpool
John Lennon
Widnes
10 M57 Manchester
Airport
A523
Airport
11 M6
A557
M53 M
12 19
5 6 A34
7 A533
A540 8
llywell A550 9 Ellesmere M56 A556 A537
Port A623
A56
10 14
A537
11
Northwich
15 A49 M6 Macclesfield
A548 A5117 A537
A548 A41
HUYTON & A6
A5026
M53 PRESCOT
A556 GOLF
A5116
LOCATION
W COURSE A34
12 A54 A533 H
A494 A51 18
IS
A513
LN
Chester
TO
5129
A54
KIN
A49
N
SS
Middlewich A53
LAN
GSWAY
MO
A549 A55 Congleton A523
Prime location with immediate access to M62 corridor
E
E
17
PAG
A41
A50
PIT POTTERY
A34 The property forms part of the wider Huyton Liverpool City Centre is approximately 9 miles
RD
NE L AN
CH A51
A530 D L AM6 E
Business Park, an established industrial and west and Manchester 27 miles to the east.
AY
WOO
A534
L L RD
SEE
W
Alsager Leek
N
ROBY
H
Crewe
HU trade counter location situated directly from
C
E
J5 M62 STATION YT
AR
A534
HUYTON A534
ON
H EY HA
LL
RD
EL
LI
M57 STADTMOERS
PARK
A527
A53 the intersection of Junction 6 of the M62 and Liverpool John Lennon Airport is 7 miles
A5080 A500 16
A49 Nantwich RD S A500
south with Manchester international Airport
STATION Junction 1 of the M57, which is known locally
RD
D
D
SH
I C KF I E L
A
TA TO
RR
A520
approximately 28 miles south east.
'S
Wrexham
BOWRING PARK A41
R N ST WHISTONA34 as Tarbock Island. The M58, M6, M56, M60
HN
BR
BO
BO
& GOLF COURSE
RD
WI ENTERPRISE PARK
CK and M53 motorways are all within easy reach
JO
TO LIVERPOOL
AR
A51
STRETT
K
L Newcastle-
LIN
SO Stoke A52
RD Liverpool Lime Street station and Runcorn
ST
Under-Lyme
Y
N 0n-Trent
thereby providing excellent transport links
ND
station provide regular rail services to London
RD
WI
from which to serve the North West.
ON
M62 A5 A525 TO A50
A521 Euston and also links to the North West
WAY
08 MANCHESTER
15
0 & M6
Whitechurch CRO A51 M6
A50
Knowsley forms part of the Greater including Manchester, Preston and Warrington.
LR
D NTO
TH
IL N RD
A34 A520
Merseyside region which has a population
HEA J6 M62
W A53
of 1.4 million people and is one of the largest
A5
CHILDWALL GOLF COURSE Market
08
0Stone industrial centres in the UK.
A519
Drayton TO RUNCORN
Yarnfield
A5013
A34 A51 A518
A41
A519
14 Stafford
5405
FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK,
LIVERPOOL, L35 1RZ
SITUATION
The property is accessed directly from Fallows Way, which in turn adjoins Tarbock Island via Windy
Arbour Lane.
There are a range of national and regional occupiers within close proximity including Corex, Screwfix,
Howdens, Batleys Cash and Carry, Olympic Foods and a Village Hotel and Leisure Club.
FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK,
LIVERPOOL, L35 1RZ
THE PROPERTY
BATLEYS
CASH & CARRY
M57 MOTORWAY
OLYMPIC FOODS
VILLAGE
HEALTH CLUB
TO LIVERPOOL
M62 JUNCTION 6
TO MANCHESTER
FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK,
LIVERPOOL, L35 1RZ
DESCRIPTION
The premises comprise a modern, detached distribution warehouse unit of steel portal frame
construction arranged over 3 bays and beneath a pitched, metal clad roof. The property is in an
excellent condition and has recently been extensively refurbished with the construction of
a new, two storey ancillary office.
The specification is as follows:-
• Minimum eaves height of 8.35 meters
• 8 dock level loading doors together with 2 level access doors
• Self contained secure site with loading yard to eastern elevation
• Fully sprinklered warehouse
• Warehouse lit by newly fitted LED lights
• Warm air blowers supported with additional, localised heaters
• Car parking to the front of the property for 65 vehicles (including 3 disabled bays)
• Security lighting and CCTV throughout
• Additonal self contained loading yard to the side of the property
In addition, the tenant intends to undertake additional refurbishment work through the
replacement of the current access gates, further lighting and heating upgrades, and
refurbishment of the pre-existing office facilities and toilets.
FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK,
LIVERPOOL, L35 1RZ
ACCOMMODATION
Area Sq m Sq ft
Warehouse 7,678.1 82,647
Offices 1,025.4 11,037
Amenity block 94.9 1,022
Total 8,798.4 94,705
Mezzanine Floor 426.0 4,585
The property sits on a broadly rectangular shaped site which measures approximately 4.4 acres
(1.78 ha) providing a site cover of 47%.
TENANCY
The property is let to Liverpool Football Club and Athletic Grounds Limited on a new lease
commencing 5th May 2015 for a term of 10 years.
• The lease is drafted on full repairing and insuring terms
• F
ollowing a 12 month half rent period (which will be topped up by the vendor), the rent is
£300,000 per annum, which reflects just £3.17 psf.
• The lease provides for five yearly upward only rent reviews
• Subject to a schedule of condition, available upon request.
FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK,
LIVERPOOL, L35 1RZ
TENANT COVENANT
Liverpool Football Club and Athletic Grounds Limited (Registered Number 35668) is 100% owned
by Fenway Sports Group, which in turn is held by a range of investors including John Henry and
Tom Werner, who are responsible for the overall management of Fenway Sports Group. Their
latest accounts are below:
31 May 2014 31 May 2013 31 May 2012
Turnover £255,647,000 £206,115,000 £168,990,000
Pre-tax profit £920,000 (£49,793,000) (£40,522,000)
Total current assets £46,757,000 £53,920,000 £45,781,000
The company have been awarded a D&B rating of N1, representing a minimum risk of business
failure.
The subject property serves 8 retail outlets spread across the UK and Ireland resulting in the
handling of over 200,000 parcels per year shipped to over 100 countries creating a turnover of
approximately £140 million from this property alone.
In addition to the storage and shipping capabilities, the property also accommodates the Product
Developers and eCommerce team with approximately 42 full time staff based here.
At peak times the warehouse is home to over 100 staff and is open 24 hours 7 days a week.
FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK,
LIVERPOOL, L35 1RZ
TENURE
M 57
We understand the property is held freehold EET
STR
ON
SHT
under title number MS351070. IS A
ELL
Dra
in
VAT
We anticipate that the transaction will be treated
as a Transfer of Going Concern (TOGC).
EPC
4
The property has an EPC rating of C(60) as per
the below.
The full certificate is available upon reuest.
Warehouse
Energy Performance Asset Rating
FAL
El S
Huyton Business P
LOW
ub S
ta
WAYS
ta
ub S
El S
Tank
FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK,
LIVERPOOL, L35 1RZ
OCCUPATIONAL MARKET
A dearth of quality logistics supply driving further rental growth
The North West industrial market performed strongly throughout 2014 with take-up totalling just over The region’s infrastructure is being further improved through the introduction of a new deep water
4 million sq ft. The majority of take-up was through retailers, many of which have expanded logistics facility at the Port of Liverpool at a cost of c.£300 m. The new facility will shortly open for business
networks in response to the continuing growth in online retail spending and focussed along the major and will be the UK’s most centrally located deep water container terminal enabling vessels up to
distribution corridors around the M6 and M62 motorways 13,500 TEU to call directly at Liverpool and thereby promoting further growth in the regions industrial
and logistics market.
The region also has the lowest proportion of existing Grade A availability in the UK, with just three
new build units available over 100,000 sq ft. This continued undersupply coupled with a growth in In addition, the planned ‘New Mersey Gateway’ will provide a six lane toll bridge over the River
occupier confidence, has resulted in a 3.7% average year on year growth in prime rents over the past Mersey between the towns of Runcorn and Widnes, further improving the already excellent road links
5 years. in the region.
The North West is the best performing region within the UK, with a further 1.6% average growth Some key lettings of notable interest are set out below:
per year forecast over the next 5 years and some commentators predicting up to 2.6% per annum
growth.
Size Headline Rent
Property Tenant Date
(sq ft) (£psf)
Manchester
Manchester and UKand UK average
average primerental
prime industrial industrial
growthrental growth Kingsland 123, Warrington Amazon 85,000 £5.36 Q4 2014
4.0% SYNERGI, Irlam Omnicell 60,000 £5.35 Q4 2014
3.5% Appleton Thorne Trading
The HUT Group 105,000 £5.00 Q3 2014
3.0% Estate, Warrington
2.5%
Logistics North, Bolton MBDA 150,000 Confidential Q3 2014
2.0%
1.5% Manor Park, Runcorn Rehau Windows 132,795 £5.25 Q4 2013
1.0%
Omega North, Warrington Hermes Parcelnet 153,500 £5.75 Q3 2013
0.5%
0.0% In light of the above, we consider the ERV of the building to equate to £4.00 per sq ft.
North West UK Average
2010-14 2015-19FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK,
LIVERPOOL, L35 1RZ
INVESTMENT
Some key investment transactions of notable interest are set out below:
MARKET
Size Unexpired
Property Tenant Price (NIY) Date
(sq ft) Term
£4.07M
2014 produced a record amount of investment in North Appleton Thorne Trading Estate, Warrington City Link 69,992 4 years Q3 2014
(7.20%)
West industrial sector of over £6.1 billon.
Johnson Controls £11.9M
Investors’ confidence in the UK industrial market continues to grow, Estuary Business Park, Speke 157,500 10 years Q2 2014
(UK) Ltd (6.45%)
with 2014 producing a record amount of investment in industrial
property. This increase in investor sentiment was evident across the £5.73M
Stakehill Industrial Estate, Middleton Yodel 102,855 8 years Q3 2014
whole UK, as all regions exceeded their 10 year average volumes. (6.70%)
The North West region continues to be one of the most attractive £6.00M
Chesford Grange, Warrington JTF Wholesale Ltd 112,435 9.5 years Q4 2014
markets for both domestic and overseas investors as they look to (7.09%)
take advantage of the excellent transport links, close proximity to a
highly skilled labour source and the current supply/demand imbalance £9.75M
Haydock Industrial Park, St Helens Palmer & Harvey 146,188 18 years Q1 2014
creating sustained rental growth. (6.67%)FALLOWS WAY
WHISTON ENTERPRISE BUSINESS PARK,
LIVERPOOL, L35 1RZ
FURTHER INFORMATION
PROPOSAL If you require further information or wish to arrange an inspection, please contact:-
We are seeking offers in the region of £4.36M (Four Million,
Three Hundred and Sixty Thousand Pounds) reflecting a net James Kinsler Bruce Poizer Jason Winfield
initial yield of 6.50%, subject to contract and exclusive of VAT. james.kinsler@dtz.com bruce.poizer@dtz.com jason.winfield@dtz.com
Tel: 0161 235 7634 Tel: 0161 455 3795 Tel: 0203 296 2116
A purchase at this level reflects a low capital value of £46.04 psf.
Misrepresentation Act 1967. Unfair Contract Terms Act 1977 The Property Misdescriptions Act 1991. These particulars are issued without any responsibility on the part of the agent and are not to be construed as containing any representation or fact upon which any person is entitled to rely.
Neither the agent nor any person in their employ has any authority to make or give any representation or warranty whatsoever in relation to the property. April 2015. RB&Co 0161 833 0555. richardbarber.co.ukYou can also read
